Some would state that 'sustainable development' is an oxymoron, and it
is not unusual to see those with abiding faith in neoclassical economics
sneer at the very mention of the concept. In their view, the market
is the best medium through which development would take place, and the
term 'sustainable' presents to them the threat of heavy-handed government
intervention and controls. Actually, in no sense does sustainable development
ignore the importance and primacy of market solutions. In fact, even
environmental advocacy and policies today have moved away distinctly from
command-and-control solutions, to the enlightened use of market mechanisms.
Deviation from sustainable development, in fact, represents a deviation from
sound market principles. This statement, of course, merits some explanation.